ITT Corporation Stock Forecast
ITT Corporation stock price ended at $124.49 on Thursday, after losing 3.71%.
(Updated on May 02, 2024)
The ITT Corporation stock price fell by -3.71% on the last day (Thursday, 2nd May 2024) from $129.28 to $124.49. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.02% from a day low at $122.14 to a day high of $128.27. The price has been going up and down for this period, and there has been a -0.53% loss for the last 2 weeks. Volume has increased on the last day by 494 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $142.13 million.
Given the current short-term trend, the stock is expected to rise 5.57% during the next 3 months and, with a 90% probability hold a price between $131.42 and $148.04 at the end of this 3-month period.
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ITT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ITT Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $129.65 and $130.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -9.18%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for ITT Corporation stock
ITT Corporation finds support from accumulated volume at $123.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.14 (5.02%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect ITT Corporation to open at $124.97, and during the day (based on 14 day Average True Range), to move between $121.49 and $127.49, which gives a possible trading interval of +/-$3.00 (+/-2.41%) up or down from last closing price. If ITT Corporation takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $125.75 (1.01%) than the support at $123.00 (1.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
ITT Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.36. We will update the financials statements for ITT Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is ITT Corporation stock A Buy?
The ITT Corporation stock holds several negative signals and despite the positive trend, we believe ITT Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.688 Sell Candidate Unchanged
Predicted Opening Price for ITT Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $124.97 ( 0.382%) | $124.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.10 | 5.31 % | |
| R2 | 128.76 | 3.43 % | ||
| R1 | 127.31 | 2.26 % | ||
| Current price: | 124.49 | |||
| Support | S1 | 122.62 | -1.50 % | |
| S2 | 121.17 | -2.66 % | ||
| S3 | 118.83 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.18 | 4.57 % | |
| R2 | 129.28 | 3.85 % | ||
| R1 | 125.75 | 1.01 % | ||
| Current price | 124.49 | |||
| Support | S1 | 123.00 | -1.20% | |
| S2 | 122.40 | -1.68% | ||
| S3 | 119.84 | -3.74% |
ITT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.319 | 0.238% |
| 2 | Oct 31, 2023 | Nov 30, 2023 | Dec 29, 2023 | $0.290 | 0.243% |
| 3 | Aug 01, 2023 | Aug 31, 2023 | Oct 02, 2023 | $0.290 | 0.300% |
| 4 | May 10, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.290 | 0.313% |
| 5 | Feb 09, 2023 | Mar 08, 2023 | Apr 03, 2023 | $0.290 | 0.337% |
FAQ
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